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Phoenix Real Estate Inventory Update: June 10

Phoenix Real Estate Inventory Update: June 10

avatarthumbnail.jpgWe gave you the sexy Bullwinkle-based commentary earlier; now it’s time for the raw data from the Phoenix real estate market, as provided by the Arizona Regional MLS.

As I mentioned earlier, we are at 9.1 months of inventory for single family detached homes here in Maricopa County. Bank owned homes, also known as REOs and foreclosures, are moving at a substantially brisker pace – 1,218 sales the last 30 days against 4,368 active listings for an absorption rate of 3.58 months.

Ahwatukee has joined Queen Creek as a sellers’ market – a market with less than five months of inventory at current sales pace. Anthem, Maricopa, Surprise and Tempe all are in the balanced market range – between five and six months of inventory.

As always, all of the data is provided by the Arizona Regional MLS and is deemed reliable but not guaranteed.

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[tags]Phoenix real estate, absorption rate[/tags]

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